Carrier Global Raises Full-Year Outlook on Strong Q2 Orders and Data Center Demand
Event summary
- Carrier Global reported Q2 2026 net sales of $6.4B, up 4% YoY, with organic sales growing 3%.
- Total company orders surged ~40%, with Commercial HVAC up ~65% and data centers up >300%.
- Adjusted EPS was $0.86, down 7% YoY, but free cash flow reached $810M.
- Carrier raised its full-year outlook to ~$23B in sales and ~$2.90 in adjusted EPS.
- The company returned ~$640M to shareholders through dividends and repurchases.
The big picture
Carrier Global's strong Q2 performance reflects robust demand in data centers and commercial HVAC, sectors increasingly prioritized by enterprises and infrastructure investors. The company's ability to navigate cost pressures while maintaining margins will be critical as it executes on its raised full-year outlook. With a focus on shareholder returns and strategic divestitures, Carrier is positioning itself for long-term resilience in a volatile macroeconomic environment.
What we're watching
- Market Demand Dynamics
- How sustained data center demand will impact Carrier's growth trajectory.
- Cost Pressures
- Whether Carrier can offset input cost increases with pricing and productivity gains.
- Execution Risk
- The pace at which Carrier integrates divestitures like NORESCO and Riello without disrupting operations.